Market Analysis of Bitcoin on Wednesday 4 October 2023

2023-10-04 10:14Source:BtcDana

Bitcoin / Dollar intraday: the downside prevails as long as 27560 is resistance

 

Our pivot point stands at 27560.

 

Our preference:

The downside prevails as long as 27560 is resistance.

 

Alternative scenario:

The upside breakout of 27560, would call for 27890 and 28080.

 

Comment:

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 27427 and 27533).

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